JSC thanks, please look again - CALVF Chart - @ daily chart TI gap at $0.85 - 0.875 but its no gap below it -
CALVF Chart Daily MACD TI in low buy zone bull turned higher going UP -
$GOLD Chart Daily Spot trend @ golden cross bull trend UP
$GOLD has made a LT triple low - very bullish -
This chart courtesy Goldswitzerland.com shows the monetary inflation that the Swiss Central Bank has engaged in since 2008.
On November 30th the citizens of Switzerland will be offered the opportunity to vote.
They will do this in a referendum on the “Gold Initiative” which has three demands:
* Returning the gold held abroad (in Canada and the UK) to Switzerland
* The Swiss National Bank must hold 20% of their assets in physical gold
* No further gold sales.
Today’s Gold Price Is A 100-Year Bargain -
ex....
The fundamentals support an end to the correction that began in September of 2011:
Asian and Russian banks continue to accumulate gold faster than mines can produce this precious metal.
Western nations are running ongoing Federal Deficits.
Deficits are always covered with printing press money.
This ‘currency destruction’ causes investors to add gold and silver to their net worth. (See data point from Mark J. Lundeen in this article.
There have been no new multi-million ounce gold discoveries for a number of years, thus mine supply is not increasing and may even decline.
New gold mines take ten years from the time gold is found until production can begin – due to the mountain of regulations that need to be dealt with.
The cost of building a new gold mine continues to rise, as building materials cost more over time, and the price of oil and gas to run the machinery is on the rise (short-term pullbacks in energy notwithstanding).
This cost of production puts a floor under the gold price at around $1,200.00.
Central banks have stopped selling gold, and much of the gold that is supposedly held by these banks, has been leased out and was sold into the market.
The 8,000 tonnes supposedly in the custody of the US government has not been audited since 1953. (Imagine a private company operating in this manner).
The US stock markets are showing signs of topping out.
The money that will now be drawn out of the stock market has to go somewhere and preferably into a sector that is not overbought.
Bonds are overbought and bubbling, real estate is not cheap, (except farmland), and this leaves gold and silver which have been oversold at the COMEX, by bullion banks that do not own the bullion to back up the contracts they have sold short.
These banks will soon have to begin to cover their short positions, because of increasing demand for ‘the real thing’.
Bullion ETFs have coughed up many tonnes of physical gold since 2011, and much of the gold that is left on the shelf is owned by people who are not interested in selling at this historically low gold price, (see our first chart).
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